https://www.taxtmi.com/caselaws?id=285399 Trial balances and related financial data not in the public domain were treated as unpublished price sensitive information because they related directly to the company's financial performance and were known to the executive chairman before disclosure. However, insider-trading liability also required cogent proof that the chairman communicated that information to the wife and brother and that their trades were based on it; such direct or circumstantial evidence was absent, and their small purchases were found inconsistent with the allegation. Non-supply of the full investigation report did not breach natural justice where the findings were communicated, and the later date finding for UPSI was based on the record. The penalty order was not sustained. en-us Wed, 03 Oct 2012 00:00:00 +0530 Fri, 10 Jan 2020 11:43:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285399 Trial balances and related financial data not in the public domain were treated as unpublished price sensitive information because they related directly to the company's financial performance and were known to the executive chairman before disclosure. However, insider-trading liability also required cogent proof that the chairman communicated that information to the wife and brother and that their trades were based on it; such direct or circumstantial evidence was absent, and their small purchases were found inconsistent with the allegation. Non-supply of the full investigation report did not breach natural justice where the findings were communicated, and the later date finding for UPSI was based on the record. The penalty order was not sustained. Case-Laws SEBI Wed, 03 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285399